Developers of Kenwood Collection are working to bring the region’s only Tiffany & Co. store from downtown to the mixed-use project in Sycamore Township, sources told the Business Courier.

Officials with Phillips Edison & Co., the owner and developer of Kenwood Collection, declined comment. Tiffany officials were not immediately available for comment.

But sources, who asked not to be named, said Tiffany has been considering a move to Kenwood for some time.

Kenwood Collection will combine luxury retail, restaurants and class A office space, and it’s expected to be completed in the fall of 2015. It already has lured Saks Fifth Avenue from downtown. Tiffany (NYSE: TIF) currently operates a 7,500-square-foot store at Fountain Place, at 505 Vine St. in downtown Cincinnati. It opened the store in 1997.

Arn Bortz, partner with Towne Properties and one of the partners in the Cincinnati Development Group that owns Fountain Place, said it would make sense for Kenwood Collection, and even Kenwood Towne Centre, to try to woo Tiffany. But Tiffany still has three and a half years on its lease at Fountain Place.

“We will make every reasonable effort to keep them,” Bortz said. “We’ll do our best to extend their stay downtown.”

Jeffrey Anderson, founder of CEO of Jeffrey R. Anderson Real Estate Inc., said it would make sense to have Tiffany join Saks Fifth Avenue at the Sycamore Township development.

“It’s the right place for them to go,” Anderson said.

At the Courier’s Commercial Real Estate Developers Power Breakfast this morning, keynote speaker Anderson said without Kenwood Collection, Saks Fifth Avenue and Tiffany would probably leave the Cincinnati market. Saks announced in November it has a letter of intent to lease 80,000 square feet of space over two levels of the building that overlooks Interstate 71.

Bortz said he’s had no conversations with anyone at Tiffany about potentially leaving downtown. He said it is in Tiffany’s best interest to stay downtown, especially with the growth and development the city’s core has seen in recent years. But he said he’s sure others are making their case, too.

It would be unlikely Tiffany would have two stores in the Cincinnati market. Surrounding cities, including Columbus, Indianapolis and Nashville, each have just one Tiffany store. Even Atlanta, with a population of 5.5 million people, has just one.

New York City-based Tiffany is a jeweler and specialty retailer that sells jewelry, timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories. The company posted more than $4 billion in sales in 2013.